Editor’s note for Tuesday, September 21, 2021
A note from the editor of today's The China Project Access newsletter.
My thoughts today:
Financial news media worldwide continued to report and comment on the Evergrande debt bomb crisis today.
The conventional wisdom seems to be that there may be economic pain if the real estate conglomerate collapses, as it might do. Evergrandeโs customers, employees, and investors probably number in the tens of millions, at least. But, most pundits seem to agree, this is not the crisis that will spark a global financial rout.
What is almost certain is that Evergrandeโs founder Xว Jiฤyรฌn ่ฎธๅฎถๅฐ โ who also goes by Hui Ka Yan, and likes private jets โ is going to pay.
Who is Xu? For a portrait of a man who is probably about to experience some unpleasant lifestyle changes, click through to The fall of the Evergrande boss by Chang Che.
Our word of the day is belt brother (็ฎๅธฆๅฅ pรญdร i gฤ, literally โleather belt brotherโ), an internet nickname for Xu Jiayin after photos of him attending the Two Sessions in 2012 wearing a showy gold-buckled belt went viral โ see The fall of the Evergrande boss for photo and entails.
โJeremy Goldkorn, Editor-in-Chief
